Bank OZK (NASDAQ:OZK) Shares Bought by Oppenheimer Asset Management Inc.

Oppenheimer Asset Management Inc. lifted its stake in shares of Bank OZK (NASDAQ:OZK) by 48.0% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 49,145 shares of the company’s stock after acquiring an additional 15,936 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in Bank OZK were worth $2,015,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in OZK. Vest Financial LLC increased its position in shares of Bank OZK by 46.5% during the 2nd quarter. Vest Financial LLC now owns 28,364 shares of the company’s stock valued at $1,163,000 after purchasing an additional 9,006 shares during the period. American Century Companies Inc. boosted its stake in Bank OZK by 21.9% during the second quarter. American Century Companies Inc. now owns 1,642,293 shares of the company’s stock valued at $67,334,000 after buying an additional 295,298 shares in the last quarter. Greenwood Gearhart Inc. grew its holdings in Bank OZK by 8.9% during the second quarter. Greenwood Gearhart Inc. now owns 28,676 shares of the company’s stock worth $1,176,000 after acquiring an additional 2,340 shares during the period. Texas Permanent School Fund Corp raised its position in Bank OZK by 11.0% in the second quarter. Texas Permanent School Fund Corp now owns 102,230 shares of the company’s stock worth $4,191,000 after acquiring an additional 10,146 shares in the last quarter. Finally, Van Berkom & Associates Inc. raised its position in Bank OZK by 2.0% in the second quarter. Van Berkom & Associates Inc. now owns 2,024,130 shares of the company’s stock worth $82,989,000 after acquiring an additional 40,356 shares in the last quarter. Institutional investors own 86.18% of the company’s stock.

Wall Street Analysts Forecast Growth

OZK has been the subject of several research reports. Morgan Stanley raised their price objective on shares of Bank OZK from $48.00 to $51.00 and gave the company an “equal weight” rating in a research report on Monday, August 5th. Wells Fargo & Company reduced their target price on shares of Bank OZK from $39.00 to $35.00 and set an “underweight” rating for the company in a report on Thursday, June 6th. Citigroup cut Bank OZK from a “buy” rating to a “sell” rating and dropped their price target for the company from $57.00 to $37.00 in a report on Wednesday, May 29th. Truist Financial raised their price objective on Bank OZK from $41.00 to $49.00 and gave the stock a “hold” rating in a research note on Monday, July 22nd. Finally, Stephens restated an “equal weight” rating and issued a $50.00 target price on shares of Bank OZK in a report on Thursday, July 18th. Two equities research analysts have rated the stock with a sell rating and seven have given a hold rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $46.71.

Bank OZK Price Performance

Shares of NASDAQ:OZK opened at $42.12 on Wednesday. The company has a market cap of $4.78 billion, a P/E ratio of 7.06 and a beta of 1.17. The company’s fifty day moving average is $42.88 and its two-hundred day moving average is $43.17. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.17. Bank OZK has a 12-month low of $34.76 and a 12-month high of $52.36.

Bank OZK (NASDAQ:OZK) last posted its quarterly earnings results on Wednesday, July 17th. The company reported $1.52 earnings per share for the quarter, meeting the consensus estimate of $1.52. Bank OZK had a return on equity of 14.50% and a net margin of 27.04%. The firm had revenue of $416.78 million for the quarter, compared to analyst estimates of $414.39 million. During the same period in the previous year, the firm earned $1.47 earnings per share. Bank OZK’s quarterly revenue was up 7.2% on a year-over-year basis. Equities analysts expect that Bank OZK will post 6.01 earnings per share for the current fiscal year.

Bank OZK Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, July 19th. Investors of record on Friday, July 12th were issued a dividend of $0.40 per share. This is a boost from Bank OZK’s previous quarterly dividend of $0.39. This represents a $1.60 annualized dividend and a dividend yield of 3.80%. The ex-dividend date was Friday, July 12th. Bank OZK’s dividend payout ratio (DPR) is currently 26.80%.

About Bank OZK

Bank OZK provides various retail and commercial banking services for individuals and businesses in the United States. The company offers deposit services, including non-interest bearing checking, interest bearing transaction, business sweep, savings, money market, individual retirement, and other accounts, as well as time and reciprocal deposits.